Find out more about Papaya Global Pension Assessment ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to managing payments. This supplies us with a secure and dependable method of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Staff member Website supplies workers with the ability to access and view important files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is provided in various languages.
Advantages Administration
Papaya Global helps companies use competitive advantages packages to global workers despite the number of workers in the company. The company can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source regional advantages companies in every nation, create local accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, overall work costs dispersed per place, overall work expenses per cycle and a lot more.
Worldwide, I have shown leadership and strategic knowledge in assisting large-scale populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for supervising payroll methods, as pointed out by Mark. My role involves handling and developing external partnerships, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
company to make the time 100 list for most influential companies worldwide we supply payroll payments and workforce management to all worker enters over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon great night depending upon where you remain in the world it's charming to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and specifically working on the payroll and payment sector for over seven years um I was amazed by the complexity the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I've sort of had a range of different functions on the service provider side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really very uninspiring and I wish I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies maintain separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll likewise review a wrap-up and that ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being more and more common and managing them becomes increasingly more intricate Global organizations are wanting to find Solutions and new methods to improve processes particularly from a payroll and cross-border payment standpoint numerous companies preserve different savings account just for payroll while some have multiple accounts in different countries does it make sense for business to keep different bank accounts in some cases in different nations it does but just for payroll is there a better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational business simplify the episode complex procedures of
making payroll payments properly effectively safely and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in adequate in one country but when you're doing it globally it's next level and Beyond it becomes complicated for a range of reasons most significantly regulations compliance data security and banking guidelines then there are the sheer numbers they include additional complexity the worldwide Labor force is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll design there's typically an overwhelming number of various systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in big quantities and or really really basic there's no genuine consistency framework we're living in an age of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind each time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that offers me sleepless nights and rather honestly the more a company invests in worldwide payroll the less of a picture they see a lack of exposure also encompasses payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide services have actually revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors improperly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the information is shipped to the wrong location the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they count on the required numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges business face when they're paying to employees or otherwise that's a great question I constantly toss this back and say what is it what doesn't need to be included ideal and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity any place you look best eventually developing a knowledge base is definitely vital but all over you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is enabling us to kind of move on with that it also too to add to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely crucial that payroll and financing groups work more detailed together than ever um I'm constantly amazed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to add to type of the level of complexity there's a growing number of benefits being organ or being provided by organizations throughout the world so again you're simply seeking to include more and more payments to this already complex landscape so if you kind of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real difficulties or real tough type of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a couple of decades I would absolutely state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding details into the next function as it were that's actually handling the payment side of things however you know in in my viewpoint and my experience that does not always need to be the case you know long gone are the times where we need to develop extra handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and an age that you know that we are working in today there is no reason that we are still making this as hard as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any business has from an expense point of view from an effect viewpoint on staff members it is definitely crucial that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the biggest destructive result on people's wellness and many other elements if individuals aren't paid uh I have actually always been impressed entering this Market type of the last five to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment solution is a terrific primary step um providing an end-to-end payroll option for your employees worldwide again I think is another big um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely key to success success of businesses and decreasing the variety of tools platforms and checking account they require for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're implied to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how crucial a function it is which's why we do it that's why we get on with it and this is why we're talking today about making it as easy as possible for everybody that's involved in those procedures and also so imagine sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating task trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and really see what was going on and type of try to return to everyone so moving on look why do business select to main different checking account there are businesses out there doing exactly this for particular nations and I've operated in an organization or many services doing precisely that I can say it doesn't always feel effective and it does create more work I know we're not intentionally doing that we're not developing extra work for anybody where we do not need to and anyone that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe many reasons one is it's the requirement I think people have got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I think this is a process that needs looking at it needs changing however eventually individuals are extremely stuck to what they recognize
with ideal um modification is a tough thing all of us don't like modification um so I believe it's just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having maintaining multiple checking account but there's a substantial quantity of complexity chooses setting up a checking account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for individual people so the intricacy is huge but I think the truthful answer is modification um individuals have not had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to alter however we've constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might nearly be determined to be the next Century or two there is a lot to track and this approach does position several obstacles um so Johnny might you inform us about those difficulties yeah naturally so there's a variety right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you should have a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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